Info on Long Term care Insurance, do the ins. co.s pay?
will not pay for Nursing home care, in Nursing Homes, just if the
person is kept home, will they pay. Is this true or not??
Answers:
Yes, they will pay for both nursing homes and for home care if the plan is set up that way. A person has the option of setting it up to pay less per day for home care since it doesn't cost as much to stay at home
Well, there is no standardized form, so you have to READ THE POLICY to find out. If you're thinking about buying one, get a sample policy.
One of the problems with LTC coverage, is people don't read it, and assume it will pay ALL your nursing home costs forever, or for a home health aid, whatever. They're just GUESSING, and they're buying the policy without finding out EXACTLY what is covered.
MOST have a limitation of 5 years or so. MOST only pay up to a dollar amount per day. MOST require you to be in a licensed home.
But each one is different, so it's IMPOSSIBLE to answer your question. You'll have to talk to the agent that sold it, or call that company, or read the policy. If you have a specific desire - to buy coverage that does XYZ, be sure to tell your agent that's what you want, and THEN be sure to read the whole sample policy BEFORE you give him a check.
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